A startup recycling firm announced today that it will establish corporate headquarters in Charleston County in a $10 million investment that could bring 75 jobs to the Lowcountry.
PyroTec, Inc., will located its headquarters in Freshfields Village, the shopping and office complex at the crossroads of Johns, Seabrook and Kiawah islands.
"South Carolina gives us an excellent business environment, and we look forward to growing our business here," said John Burns, CEO of PyroTec.
The company specializes in removing the valuable components from waste materials, such as the aluminum in old tires, and then selling the components at a profit on the open market.
The company's patented process also can be applied to items such as plastic bottles, textiles, lumber, garbage, oil sands and tar pits.
Pyrotec operates similar facilities in Taiwan and Australia, according to the Charleston Regional Business Journal, but it is currently seeking at least $50 million during the next 12 months to continue operations, the Journal reports.
The company plans an initial public offering of 5 million shares to finance its operations. Announcements about its factory location will be made in the coming weeks.
"Announcements like this show that we are on the right track with regards to economic development,” Gov. Haley said.
The company meets 2012 EPA regulations, as well as California Clean Air requirements, according to a news release from the governor's office.
FOR MORE INFORMATION
The company will begin hiring for the new positions in July. Anyone interested in job opportunities with the company should contact Management Recruiters of the Low Country at 843-628-5021.